Solar panel efficiency defines the amount of sunlight that can be converted by the panel into usable electricity. Solar panel efficiencies for a panel depends on the cell type, manufacturer and size of the panel. A list of solar panel efficiencies of top panel manufacturers (as of end 2015) based on cell type is given as follows:

Type of solar panel – Panel efficiency (%)

Monocrystalline 17 – 23

Polycrystalline 14-17

Thin Film 7-16

It is worthwhile to note that the efficiencies mentioned above are for mass-produced panels. But a number of manufacturers have managed to obtain greater efficiencies in research labs

A key point to be noted is that a solar panel of 1 MW with higher efficiency doesn’t generate more electricity than a 1 MW solar panel with a lower efficiency. In fact, regardless of the efficiency, a 1 MW solar panel generates the same amount of electricity.

However, a high efficiency 1 MW solar panel requires less area than a 1 MW panel with a lower efficiency.